Following the breakout triangle pattern and the retest of the support area, oil failed to make a new high and fell back to the support area.
Only if oil makes a new high will a Double Bottom Reversal be confirmed.
if it fails... Oil might drop to new lows.
Happy trading, and if you agree with my idea, please hit the LIKE button.
Only if oil makes a new high will a Double Bottom Reversal be confirmed.
if it fails... Oil might drop to new lows.
Happy trading, and if you agree with my idea, please hit the LIKE button.
Trade closed: target reached:
can oil close below $61
can oil close below $61
Comment:
In the case of oil, the $65.83 support level is still holding.
If the support level is not broken, oil might rise even further to $71.